Quidel Corporation (NASDAQ: QDEL) ("Quidel"), a provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems, announced today that it expects revenues in the fourth quarter of 2020 to be in the range of $808 million to $810 million, up from $476 million in the prior quarter.
"The COVID-19 pandemic has presented challenges to all companies. At Quidel, our people have responded at every level and function -- from R&D and regulatory to supply chain and manufacturing. Due to the hard work and dedication of our people, we had another record quarter, and our best year yet," said Douglas Bryant, president and chief executive officer of Quidel Corporation. "We continue to see strong demand for our COVID-19 diagnostic products; in fact, open orders at the end of 2020 were approximately 25% of what we shipped the entire year. We’ve increased the scale meaningfully of our QuickVue and Sofia tests, and expect to scale further from a current combined 13 million tests per month, to over 70 million tests per month by the end of 2021. In 2020, we shipped over 23,000 Sofia analyzers to new and existing customers, over 14,000 of which shipped in Q4 alone. Further, we expect another 20,000 Sofia analyzers will be shipped to new customers in the first quarter alone," added Mr. Bryant.
These preliminary results are based on management’s initial analysis of operations for the quarter ended December 31, 2020. The company expects to issue full financial results for the fourth quarter and fiscal year 2020 in February.
Quidel to Present at 39th Annual J.P. Morgan Healthcare Conference
Quidel will present at the 39th Annual J.P. Morgan Healthcare Conference to be held virtually on Wednesday, January 13, 2021.
Douglas Bryant will present that day at 2:00 p.m. Eastern time (11:00 a.m. Pacific time) with a question and answer session scheduled immediately following the presentation. During the presentation, the company will discuss business and financial developments and trends. The company's statements may contain or constitute material information that has not been previously disclosed.
A live webcast and audio archive of the presentation will be available via the Investor Relations section of the company’s Web site at https://ir.quidel.com, or by clicking on the link below:
Participants should allow approximately five to ten minutes prior to the presentation's start time to visit the site and download any streaming media software needed to listen to the Internet webcast. A replay of the webcast will also be available on the company’s Web site for 14 days.
https://finance.yahoo.com/news/quidel-announces-preliminary-revenue-fourth-191500143.html
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